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PMIs are the only story in town so.....>

BOND SUMMARY
BOND SUMMARY: PMIs are the only story in town so far this morning in core bond
markets with Bunds, USTs and gilts all moving higher.
- French PMIs initially came in below consensus expectations, moving bonds
higher. However, both the manufacturing and services prints remained above the
50-breakeven level. Both the German manufacturing and services prints then
disappointed further with no real positives seen in the press release. Indeed,
the manufacturing print fell to 41.4, not far above levels seen in the depths of
the global financial crisis.
- ECB President Draghi is due to testify in front of the European Parliament
today. Typically, there is little new news from these events.
- In the UK, the Supreme Court is due to give guidance on when it will publish
its decision on whether the government's move to prorogue parliament was
illegal. Also this afternoon, there is a vote at the Labour Party conference to
clarify the party's official Brexit position.
- TY1 futures are up 0-16+ today at 130-06+ with Bund futures up 0.96 at 174.43
and Gilt futures up 0.77 at 133.41.

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